Short Positions Pile Up in Nasdaq Futures, Citi Strategists Say
- Nasdaq 100 futures have $8.1 billion of net shorts, no longs
- Positioning is light overall, reflects bearish sentiment: Citi
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Investors are souring on the technology-heavy Nasdaq 100 Index, building short positions in the futures market, according to Citigroup Inc. strategists.
Positioning in the Nasdaq 100 is now one-sided net short at $8.1 billion, with all long positions unwound, a team led by Chris Montagu wrote in a note. Meanwhile, there’s a modest net short position in S&P 500 futures but $15 billion of long positions are still outstanding.